Present: Selectmen Angley, Ward, Hewins, Chairman Casey, Town Administrator LaFond and A.T.A. Bouchard. Absent: Selectman O’Donnell. Also present J. Franey and Clarke Rowell
The Chair called the meeting to order at 11:45 A.M.
Clark Rowell of Unibank explained the purpose of the meeting was to vote on the winning bidder for the bond regarding the short term financing for the North Carver Water District. This was a competitive bid process with a winning rate of 1.08% net by Eastern Bank, after a $10,000 premium. The actual coupon is 1.5%. This is the first time the Town has done a bond with full disclosure rating from Standard & Poors. The Town’s bond rating as gone from A3 (Moody’s) to AA- Standard and Poors. This puts the Town in a good position for future capital bonding projects as our rating will be in the “strong” market. Rowell stated that a formal vote needed to be taken by the Board to approve the awarding of the bid.
Hewins asked Rowell if there was any risk to the Town; e.g., if the bank sells the bond can the buyer raise the rate. Rowell responded there is no risk.
Rowell stated that that this is a temporary loan and that the long term financing will be done through Rural Development.
Motion by Ward, second by Angley to approve awarding the bid to Eastern Bank. Vote unanimous.
Casey stated that Board members will be provided with a copy of the current contract for the Town Administrator to familiarize themselves with and it will be reviewed in the near future. An evaluation process was discussed. LaFond stated he would get Board Members an outline of an evaluation tool done several years ago. Casey asked that members come up with questions for the evaluation.
Hewins presented a draft letter to the Green Communities Division of the State. The Town will be applying for the Green Communities Planning Assistance Grant and she explained the letter and criteria for being certified as a Green Community in order to qualify for grants. The application deadline is August 7, 2009 and she is seeking Board members’ support. Motion by Ward, second by Angley to support letter to Mark Sylvia. Vote unanimous. Ward stated this should be place on next week’s Agenda and he will also give a Green Committee update. Hewins inquired about the NSTAR data. LaFond stated we would look into the matter.
Motion by Ward, second by Angley to adjourn at 12:30 P.M.
Jean M. Bouchard
Assistant to Town Administrator
Town of Carver
108 Main Street
Carver, MA 02330
| 
